WINNING THE SPACE RACE

£850 million portfolio of regional innovation districts across the UK.

Science Creates is a Bristol-based deep tech ecosystem including two incubators and a venture capital investor which helps scientists and engineers commercialise their scientific discoveries.

According to the latest life sciences report from Savills, published in March, the continued imbalance between supply and demand for laboratory space across the 'golden triangle' of London, Cambridge and Oxford has resulted in strong rental growth. Vacancy rates for available fitted laboratory space are close to zero in Cambridge and London and not much better in Oxford, which has a vacancy rate of just seven per cent.

This shortage has resulted in landlords retrofitting existing office stock and building speculatively fitted lab space, which they can then offer within a three to six-month timeframe. The rental premium for fitted lab space when compared to conventional office space is, on average, 70 per cent higher across Cambridge, Oxford and London.

But Bruntwood SciTech, which is aiming to create a network of quality office and lab space alongside a range of scientific services, says that some available floor space that could be viewed as potential hubs for science and technology occupiers is poor quality and not fit-for-purpose due to being built originally as retail, commercial or leased office space.

The shortage of space is particularly chronic in the centre of Oxford, with 497,911 sq ft take-up for science-related real estate in the city last year.

Science and technology companies like co-location because of the opportunities for collaboration and it’s generally easier to attract skilled scientists and technologists who prefer to be where there are a lot of similar businesses, which is why Milton Park at Abingdon and Harwell near Didcot continue to be so successful.

But with space at a premium, why don’t life sciences companies look further afield?

Last May Bruntwood SciTech unveiled plans for a new world-class innovation cluster within the Birmingham Knowledge Quarter in partnership with Aston University and Birmingham City Council. The proposals cover 20 hectares around Aston University and sites owned by the university and Birmingham City Council, such as the former Aston Science Park, and Bruntwood SciTech’s Innovation Birmingham campus.

The masterplan forms part of Bruntwood’s strategy to invest £1 billion in the West Midlands over the next decade. The partnership will draw on Bruntwood SciTech’s expertise in developing an

In partnership with the University of Bristol, Science Creates now combines specialist incubator facilities (which include laboratories, offices, event space, deep tech and finance mentors) across two sites in the city with a dedicated venture capital fund.

Warwick University plans world-class innovation Campus

A multi-million pound scheme to build a new innovation campus for horticultural, medical and automotive research is being planned by the University of Warwick at its Wellesbourne site, which is currently home to a small number of businesses employing around 400 people.

The university is now developing a long-term strategy for the site as a new Innovation Campus covering crop science, agri-tech and life sciences, automotive vehicles and medical research.

The university has also co-founded Midlands Mindforge, along with seven other universities, aiming to secure significant private investment to support early-stage businesses across the region.

The ambitious plan will involve raising funds from strategic corporate partners, institutional investors and qualifying individuals, to help transform science and technology into successful businesses with real-world impact.